GSE emerges from bankruptcy

By Michael Lauzon
Correspondent

Published: August 11, 2014 4:18 pm ET
Updated: August 11, 2014 4:22 pm ET

Image By: GSE Environmental Inc. GSE Environmental Inc. makes a variety of liners and geonets used in industrial and infrastructure markets.

Related to this story

Topics Mergers & Acquisitions Public Policy China United States Agricultural Geomembranes/landfill Industrial liners Film & Sheet
Companies & Associations

Geosynthetics film maker GSE Environmental Inc. has emerged from Chapter 11 bankruptcy protection, the company announced Aug. 11.

“Today marks a fresh start for GSE,” stated GSE CEO Chuck Sorrentino in a news release. “Our new capital structure and substantially stronger balance sheet helps position our company for long-term growth and profitability.”

GSE moves forward with a reduced debt load, greater liquidity and the support of its new owners, private equity firms Littlejohn & Co. and Strategic Value Partners. GSE’s board of directors will be controlled by Littlejohn.

GSE’s restructuring plan was approved by the U.S. Bankruptcy Court in Wilmington, Del., on July 25 and became effective Aug. 11.

The company did not just mark time during the restructuring process. It opened a new plant in China and launched new products.

GSE suppliers will be paid in full if they agree to return to normal trade credit terms. Other unsecured creditors also will be compensated.

GSE’s products include liners and geonets sold to industrial and infrastructure markets. Its U.S. plants are in Houston, its headquarters, and in Spearfish, S.D., and Kingstree. S.C.

GSE’s legal advisor was Kirkland & Ellis LLP. Moelis & Co. was its investment banker and financial advisor and Alvarez & Marsal North America LLC provided advisors. Littlejohn and SVP were represented by Wachtell, Lipton, Rosen & Katz.


Comments

GSE emerges from bankruptcy

By Michael Lauzon
Correspondent

Published: August 11, 2014 4:18 pm ET
Updated: August 11, 2014 4:22 pm ET

Post Your Comments


Back to story


More stories

Image

Arsenal Capital selling Royal Adhesives and Sealants

April 27, 2015 4:10 pm ET

Private equity firm Arsenal Capital Partners has sold off a plastics-related business for the second time in six months.    More

Image

Eriks NV buys two US polymer companies

April 24, 2015 10:38 am ET

Dutch company Eriks NV is expanding its reach in the North American plastics sector with two acquisitions: Dallas-based Seals and Packings Inc. and...    More

Image

Danish packaging firm Faerch buys UK's Anson as part of growth strategy

April 24, 2015 9:37 am ET

Denmark-based packaging company Faerch Plast A/S has acquired Ely, United Kingdom-based Anson Packaging Ltd., a move the company says “should...    More

Image

Reifenhäuser acquires German spinneret company Enka Tecnica

April 17, 2015 9:31 am ET

Germany-based Reifenhäuser GmbH & Co. KG, a major manufacturer of extrusion equipment, has announced that it is acquiring Enka Tecnica GmbH, a German ...    More

Image

Spain's Grupo Antolin to buy Magna's interiors business

April 16, 2015 12:33 pm ET

Spain's Grupo Antolin has reached an agreement to purchase Canadian auto supply giant Magna International Inc.'s interiors unit in a deal valued at ab...    More

Market Reports

North American Thermoformed Packaging Market Outlook & Review 2015

Our annual report provides a thorough review and analysis of economic and political conditions, emerging market trends, packaging design advances, materials pricing and sustainable packaging issues impacting supply and demand in the TP segment. Our analysts identify key drivers of growth and opportunities for processors to remain competitive in the years ahead through innovation, production efficiencies and more.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events